PRESS RELEASE
Published on July 18, 2023
“Roof Market Report 2023 || DataM Intelligence”
The global roofing market was valued at US$129.4 billion in 2022 and is expected to reach US$181.2 billion, showing a CAGR of 4.3% during the forecast period (2023-2030).
The main factor driving the global roofing market growth is the growing construction industry worldwide. The increasing demand for medical facilities, state-of-the-art hospitals and senior living facilities due to the increasing aging of the population is also driving the market growth.
Major players such as Atlas Roofing Corporation, 3M, Dow Inc., Duro-Last, Inc, BASF SE, BMI Group, Johns Manville, Siplast, IKO Polymeric and Godfrey Roofing Inc. are focused on R&D activities and product innovation to gain a competitive advantage to get market. The North America region holds a dominant position in the roofing market.
Important developments in the roofing market
In February 2019, 3M Industrial Mineral Products Division introduced 3M Smog Reducing Granules to eliminate smog pollution (nitrogen oxides or NOx) from roof shingles. 3M Roofing Granules are integrated into the entire surface of a shingle and have a special photocatalytic coating applied to the base mineral.
In July 2017, Duro-Last introduced the Duro-Shield product line. The product is designed to improve the performance of a wide range of commercial roof types. Duro-Shield coatings and materials are available in Duro-Shield 10, Duro-Shield 20 and Duro-Shield 5.
Scope of the roofing market
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report metrics |
details |
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CAGR |
5.3% |
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forecast period |
2023-2030 |
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data availability |
Value (USD) |
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Covered Segments |
By type, by packaging product, by application and by region |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Fastest growing region |
Asia Pacific |
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Largest market share |
North America |
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Covered report insights |
Competitive landscape analysis, company profile analysis, market size, share, growth, demand, recent developments, mergers and acquisitions, new product launches, growth strategies, sales analysis and other key insights. |
To get more insights of Global Roofing Market Report – Click here
Roofing market: overview
Roofs maintain the structural integrity of buildings and also protect them from external influences. In residential areas and in the construction industry, roofing is required. Professional roofers provide the expertise and ensure proper installation techniques, quality materials and compliance with building codes and regulations.
Roofing market: Opportunities
Due to growing environmental concerns, the demand for sustainable and energy-efficient roofing solutions is increasing. Additionally, the integration of technology such as advanced roof estimation software, project management, and remote monitoring can improve efficiency, accuracy, and the customer experience in the roofing industry.
The above factors present significant growth opportunities for the major players in the roofing market.
Roofing market: dynamic
The growing construction industry is driving the global roofing market growth. The construction industry grew to nearly $12 trillion in spending prior to the COVID-19 pandemic and is expected to grow at 3% per year. This includes both residential and commercial real estate developments as well as utility and industrial buildings.
However, factors such as volatility in raw material prices, lack of skilled labor and lack of safety awareness are expected to slow down the market growth.
Roofing Market: Geographic Insights
Due to the growing construction industry and population in the region, Asia Pacific region is witnessing a huge demand for roofing services. In addition, India’s flagship government programs such as Smart Cities, Housing for All, Make in India and Atal Mission for Urban Rejuvenation and Transformation (AMRUT) are expected to boost economic development. It is predicted that more foreign investment will be attracted due to these efforts and the government’s desire to expand public-private partnerships with foreign companies.
Table of contents
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1 |
Reporting Methodology and Scope |
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2 |
Report definition and overview |
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3 |
Summary |
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4 |
market dynamics |
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5 |
industry factors |
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6 |
COVID-19 Analysis |
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7 |
Roofing Market Segments and Region |
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8th |
Global Corporate Stock Analysis – 10 Key Companies |
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9 |
Company and product profiles of the roofing market |
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10 |
About DataM |
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